Barrick M&A leads to greenhouse gas emissions jump – Metals Focus – by Vladimir Basov (Kitco News – July 7, 2021)

(Kitco News) – Barrick Gold’s corporate restructuring has led to a jump in greenhouse gas emissions, according to Metals Focus, a leading independent precious metals research consultancy, which today presented findings of its annual peer group ESG report comparing ESG metrics across 16 of the biggest gold miners over the last seven years.

Metals Focus said that this report, the latest of which comes out this week, aims to make like-for-like comparisons across this peer group, although this is not possible for all metrics because of the variability in disclosure.

However, Metals Focus noted that comparing these companies from a high level does offer some useful perspectives.

“Barrick had the highest combined scope 1 and 2 GHG emissions in this group which increased by 10% y/y in 2020 to 7.4 Mt CO2e,” wrote the study’s authors. “Barrick’s emissions increased notably in 2019 due to the acquisition of Randgold and the creation of the Nevada Gold Mines JV with Newmont.

Barrick is the majority partner in the JV and therefore now includes emissions figures from assets previously owned by Newmont. This simultaneously led to a reduction in emissions from Newmont.”

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